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Freitag, 26. Mai 2017

Despite Right-Wing’s ‘Economic War,’ Venezuela Considers Debt Repayment Options

    • Venezuela's Oil Minister Nelson Martinez talks to journalists after a meeting in Vienna, Austria May 24, 2017. | Photo: Reuters

    Each year Venezuela services it debts, debunking ongoing myths that the country is consistently on the verge of a default.

    Venezuela’s Oil Minister Nelson Martinez said Thursday that he is reviewing several options to pay the country's debt, as the country grapples with a deep recession, low oil prices and a political crisis marked by sometimes violent protests.
    "We are looking forward to solving the issue of the debt," Martinez said, at a meeting of the Organization of the Petroleum Exporting Countries. "We are looking at all options, some financial support through bonds and so on."
    According to Thomson Reuters IFR, Venezuela has US$66.28 billion in outstanding debt issued by the government and other state entities, such as oil company PDVSA, which has been particularly hard-hit by the economic crisis.
    Private media in Venezuela has long published misinformation about Venezuela’s debt, continuously pushing the false narrative that the government is prone to defaulting on its bonds. However, each year Venezuela services it debts, debunking myths that the country is on the verge of a default.
    This is just one part of the right-wing opposition's larger plan to discredit and destabilize the government. Last month, the right-wing head of Venezuela's National Assembly, Julio Borges, sent more than a dozen letters to major international banks asking them not to carry out transactions with the Venezuelan government in order to block the administration of President Nicolas Maduro from receiving financing, the Associated Press reported.
    Borges warned the banks that they should be worried about their reputation if they support Maduro with financing in his bid to revitalize the economy.

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